Economic Conditions and Trade and Commerce

There are nearly 500 savings banks, apart from the State's post office bank. The deposits handled by these are about Li6o,000,000.

Revenue.

The State's revenue and expenses for the Budget year of 1927-28 balanced on a sum of about £39,000,000. Of this about L37,000,000 was made up of taxes and other real State revenue, the rest of loans. Of the former something over LI i,000, 000 comes from taxes on income and property, about L18,000,000 from customs and excise, the rest mostly from profits on State enterprises and from productive funds. The State's debts amount to about .11 oo,000,000. Formerly the funded State's debts were placed abroad but the repurchase of Government bonds has taken place on a large scale, and State loans have been taken up at home. Of all the State debentures about 8o% may be in Swedish hands. The yearly interest paid on the State debt, £4,700,000, is covered by productive activities bringing in about £5,700,000. During 1913-14 the State's taxation revenue amounted to that of the local authorities to 38% of the total taxation. Accord ing to the latest figures the proportions were 55 to 45. The burden of debt which rests on the local authorities amounts to about .170,000,00o. (K. A.) The first historical notice relating to Sweden is found in Tacitus, Germania, cap. 44, in which we find the name of the chief people of the peninsula, the Swedes proper, Suiones (0.N. Sviar, Swed. Svear, A.S. Sweon), who eventually gave their name to the whole country. According to Tacitus they were gov erned by a king whose power was absolute, and possessed a strong fleet which secured them from hostile incursions. Their original territories lay on both sides of the Malar, in the provinces later known as Upland, Sodermanland and Westmanland. Other early Roman writers, Mela and Pliny, mention the country under the name Skane. (See SCANDINAVIAN CIVILIZATION.) The people next in importance to the Suiones in the peninsula (Swed. Gotar, O.N. Gautar, A.S. Geatas) are first mentioned by Ptolemy (under the form Goutai for Gautoi). He puts them in the southern part of the country. Gotaland consisted of VesterOtland and ostergotland divided from one another by Lake Vetter, together with Smaland. In early times VestergOt land seems to have been the most important ; Vermland, the dis trict to the north of Lake Vener and the whole of the country to the north of Svealand seem to have been of small importance.

jamtland was always considered a part of Norway. After the time of Ptolemy we hear no more of Sweden until the 6th century, when a surprisingly full account of its peoples is given by the Gothic historian Jordanes. He speaks of trade in furs of arctic animals which were sold by merchant to merchant until they reached Rome.

For the same period information is to be found in the Anglo Saxon poem Beowulf. The hero himself belonged to the Geatas (i.e., in all probability G6tar), his mother being the daughter of their king Hrethel. Haethcyn, Hrethel's son, is said to have per ished in a disastrous battle against the Svear, but his fall was avenged by his brother Hygelac in a subsequent engagement in which the Swedish king Ongentheow was killed. This Hygelac is clearly identical with that. Chochilaicus wrongly described as a Danish king by Gregory of Tours (iii. 3) who died in battle with the Franks under Theodberht about A.D. 52o. We learn further that about the time of Hygelac's death strife broke out in the royal family of the Svear, between Onela, the son and successor of Ongentheow, and Eanmund and Eadgils, the sons of his brother Ohthere. The latter fled for protection to the Gotar and the war which ensued cost the lives of Eanmund and of Heardred the son and successor of Hygelac. According to the poem, Beowulf him self became king of the GOtar, but Beowulf's later history has a mythical character, and for three centuries after this time we have no reference to Swedish affairs in English or other foreign authorities. The kingdom of the Gotar probably ended soon after the 6th century.

At a later time the kings of Norway claimed descent from the ancient royal house of the Svear, and their traditions, though in great part mythical prove at least its high antiquity. They trace back its origin to the god Frey, son of Niorbr, who is said to have founded Uppsala, the ancient capital of Sweden. Among his descen dents Athils, the Eadgils of Beowulf, is a prominent figure and, in general, the account given of him agrees with Beowulf.